Fasal bags $12M Series A for Sustainable Horticulture Growth

Bengaluru-based agritech firm Fasal has raised $12 million in Series A funding to propel its precision farming platform, leveraging advanced IoT-crop intelligence for sustainable horticulture practices. The was co-led by TDK Ventures and British International Investment (BII).

The fresh funding underscores the growing momentum in early-stage investments within the agritech sector, signaling a positive trend for startups. This development follows Fasal’s earlier foray into the farming output business with the brand “Fasal Fresh.”

The startup aims to bridge the gap between producers and consumers by leveraging precision farming technologies. Fasal’s Co-founder, Shailendra Tiwari, had previously hinted at the company’s intention to secure additional funding to support its expansion.

“With this capital infusion, we plan to expand Fasal’s presence from 75,000 acres to 500,000 acres and enable our technology to deliver more to our farmers by providing them access to sustainable crop inputs, farm-level crop insurance, and working capital at lower interest rate,” said Shailendra Tiwari, who is also the CEO of Fasal.

Expanding Horizons

The infusion of $12 million will empower Fasal to broaden and diversify its B2B brand, Fasal Fresh, extending its reach in India and Southeast Asia. The funds will also fuel advanced research and development in their proprietary farm IoT-crop intelligence technology, emphasizing a commitment to cutting-edge solutions for the agricultural sector.

Founded in 2018 by Shailendra Tiwari and Ananda Verma, Fasal has been at the forefront of making horticulture farming more precise. Kranti, Fasal provides farmers with irrigation alerts, farm-level forecasts, and early warnings about pests and diseases through its patented IoT system. The company covers over 75,000 acres across more than 20 crops in collaboration with Indian farmers.

Elevating Sustainability

Fasal’s Series A funding round saw contributions from ITI Growth Opportunities Fund, Navam Capital, and Aureolis Ventures, in addition to existing investors like 3one4 Capital, Omnivore, Wavemaker Partners, Genting Ventures, and The Yield Labs Asia Pacific. This collective support signifies a shared vision for revolutionizing the $228 billion Indian horticulture industry.

With a focus on transforming the horticulture industry, Fasal’s full-stack platform, anchored by its IoT-crop intelligence technology, aims to optimize resource utilization and enhance farm productivity. The company has set its sights on expanding further into Southeast Asia, showcasing a global perspective on sustainable farming practices.

“Providing climate finance is a core part of BII’s strategy in India and Southeast Asia. By supporting the development of Fasal’s climate-smart solutions, we will be able to reach more smallholder horticulture farmers, helping them become more resilient to the impact of climate change, which is greatly affecting the agriculture sector,” said Srini Nagarajan, managing director, and Head of Asia for BII.

Empowering Farmers

Under the B2B brand, Fasal Fresh, the company facilitates the procurement of farm produce, ensuring fair market rates for farmers while streamlining the supply chain. Fasal’s innovative platform has already yielded impressive results, with farmers reducing irrigation water consumption by 82.8 billion liters, slashing pesticide use by 127,426 kg, and achieving up to a 30 percent increase in yields and quality.

In a landscape where agritech is emerging as a key player in agricultural transformation, Fasal’s latest funding milestone marks a stride toward global impact. The convergence of AI, crop sciences, and IoT in precision farming has put Fasal at the forefront of sustainable and efficient agricultural practices.

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